242 N Cordova St - Multi-Family FOR SALE


Burbank, CA 91505- McNeil
$995,000 USD
310-968-7005
242 N Cordova St, Burbank, CA for Sale
$995,000 USD
Multi-Family - FOR SALE
1/9
null | 2.4% Cap Rate

242 N Cordova St
Burbank, CA 91505
McNeil


HIGHLIGHTS

  • Well-located triplex in Burbank’s Media District, approximately 0.6 miles from Warner Bros., Disney, and other major studio employers.
  • Offered at $995,000, or approx. $331,667 per unit and $429 per SF, providing a competitive entry point in a supply-constrained submarket.
  • Approx. 72% rental upside based on renovated comparables, with projected stabilization at a 5.70% CAP and 12.19 GRM.
  • (3) one-bdrm. units in a low-density, bungalow-style layout that offers a residential feel uncommon for multifamily product.
  • Detached structure with (3) one-car garages presents potential ADU opportunity, subject to buyer verification.
  • Located within one of the San Fernando Valley’s most established entertainment employment hubs, supporting consistent tenant demand.

OVERVIEW

242 N. Cordova St. presents a well-located triplex in the heart of Burbank's Media District, positioned within a quiet residential pocket just north of the 134 Freeway and approx. 0.6 miles from the core of one of Los Angeles' most established entertainment employment hubs. Major studios including Warner Bros., Walt Disney Studios, and ABC Television anchor the surrounding area, while the nearby Media District continues to evolve with a growing mix of restaurants, coffee shops, and neighborhood retail that cater to both industry professionals and long-term residents. The property also benefits from proximity to the Burbank Portfolio, a 3.2M+ SF collection of Class A office buildings owned by Blackstone and Worthe Real Estate Group, housing major tenants such as Warner Bros., Disney, Legendary, and CBS Interactive. Offered at $995,000, the property is priced at approximately $331,667 per unit and $429 per SF, providing a competitive entry point where demand is consistently driven by proximity to major studio and office employment centers. The property is fully occupied, offering stable in-place income while presenting a clear path to future rent growth. The asset is comprised of (1) 2-bdrm. units and (2) 1-bdrm. units arranged in a low-density, bungalow-style layout that emphasizes privacy, separation, and a residential living experience. Set along a tree-lined street, the property blends naturally into its surrounding neighborhood, with mature landscaping, open lawn space, and spacing between units that contributes to a setting more commonly associated with single-family housing than traditional multifamily product. At the rear of the property is a detached structure featuring (3) individual one-car garages, along with additional driveway and surface parking. The garage configuration may present future ADU potential, subject to buyer verification, offering an additional layer of long-term upside beyond the existing unit mix. Additional amenities include a private front lawn and shared outdoor areas that lend themselves to everyday tenant use, while the units are separately metered for gas and electricity, providing operational flexibility for future ownership. From an investment standpoint, the property presents approx. 72% rental upside based on renovated comparable units in the surrounding Burbank market. At projected market rents, the asset is expected to stabilize at a 5.70% CAP and 12.19 GRM. Taken together, 242 N. Cordova St. offers significant potential within a low-density, character-driven format; located in the heart of Burbank's Media District, one of the San Fernando Valley's most established entertainment employment hubs.

FOR SALE DETAILS

PRICE

$995,000 USD

PRICE/SF

$429 USD /SF

# OF UNITS

3

PRICE/UNIT

$331,667

CAP RATE

2.4%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Burbank Media District Triplex @ $331K PPU

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1949

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,621 SF

ZONING

BUR4

APN/PARCEL ID

2483-014-002

ASK ABOUT THIS PROPERTY

Kenny StevensCompassMore Info
310-968-7005

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Kenny StevensCompassMore Info
310-968-7005

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.